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Adam Bear

House Prices Fall .38%

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I haven't had time to look at the forum for a few days but I just checked out the Land Registry thread and saw a lot of gloom from us HPCers.

But there is some cheer (if you live in England) - because prices actually fell in England.

The headline figure for England and Wales is a rise of 3.52%.

However, the figure for Wales is 7.42%

This means that the figure for England on its own is a fall of 0.38%

This may not be huge, but it is still a fall.

See this article in the Guardian yesterday:

Wales outstrips England on house prices

Calculation:

W = WALES = 7.42%E = ENGLAND = ?Avg. = 3.52%(W+E)/2 = Avg.(7.42+E)/2 = 3.52E = (2x3.52)-7.42  = 7.04 - 7.42  = -0.38%

Or is my math wrong?

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Your maths is wrong. You should have used a weighted average.

Yup, because the population of England is about 17 times that of Wales, so the English average contributed perhaps about 17/18ths of the e+w average, and Wales contributed 1/18th.

frugalista

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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